The amount is a part of a multimillion-dollar settlement as part of a lawsuit against Apple

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The lawsuit alleged Apple added software that slowed down older iPhones

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Apple has agreed to pay a min. of $ 310 mn and up to $ 500 mn in compensation for approx. 100 mn iPhone users

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Compensation will be distributed to iPhone users who filed claims before October 2020 deadline and owned one of these phones

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iPhone 6, 6 Plus, 6S Plus and/or SE device that ran iOS 10.2.1 or later before Dec. 21, 2017

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iPhone 7 or 7Plus that ran iOS 11.2 or later before Dec. 21, 2017

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Eligible iPhone users will receive their compensation between late 2023 and early 2024, reports said

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